Flypay, the developer of the restaurant app which enables waiter-less payment, is to be rolled out further after receiving £1m of new funding from mobile payment specialists Entreé Capital and a successful trial with Wahaca.
The new capital will be used to scale its technology, pick up new restaurant partners and develop its product line. The company, which includes former Jamie’s Italian International managing director and Whyte & Brown co-founder Kevin Bacon as an investor, told M&C Report that a number of leading operators were set to take up the new app over the coming months.
Wahaca, which trialled the app at its Islington site, is using the Flypay app as a speedy pay-at-table solution and Burrito Mama is using Flypay within their customised order-ahead app that allows customers to order a burrito in seconds as they approach the store so that it is ready to collect when they arrive.
“We have worked with the Flypay team to make sure that the product is 100% relevant and applicable for Wahaca’s customers.” said Mark Selby, Founder of Wahaca. “I am confident to say that what Flypay offers and continues to develop is the future of restaurant payment solutions. It is, by far, the most impressive of all the pay-at-table technologies that we have seen and we are committed to integrating this into our business.”
The idea for Flypay was born out of research that highlighted how paying for a meal was the most frustrating part of the dining experience – participants frequently cited the time taken, difficulty of finding the waiter, and complexity of splitting as spoiling what was otherwise an enjoyable night out.
Tom Weaver, co-founder of Flypay said: “By the time customers are ready for the bill they’ve finished the fun bit of their evening and are ready to move on.
“We’ve focused on speeding up the ten minutes it usually takes to pay. This not only makes for happier and more contented customers, it also improves the efficiency – and profitability – of the restaurant itself, leaving staff to focus on providing a superior experience earlier in the process.”
“For the restaurant trade, there’s definitely a huge customer engagement opportunity that comes from working with new and smart mobile technology. Flypay has moved things significantly forward as, up until now, there hasn’t been a smart and cost effective option for restaurants who want to adopt mobile technology into its brand. By integrating directly with POS providers we’ve built something that is more significant than just processing payments - Flypay opens up innovative opportunities for ordering, payment and loyalty all in one mobile solution.
“Whilst we’ve improved the efficiency and cut the cost of using mobile technology for payments, we also see huge potential in helping restaurants push the boundaries and use Flypay’s functionality to supplement their digital marketing strategies. Through the data the platform generates, it will provide merchants with smarter ways to personalise the dining experience for their existing customers.
“These are exciting times for the industry. Now that affordable technology is entering restaurant floors it has the power to positively disrupt the dining experience for customers – while at the same time, allowing owners to enjoy increased efficiency, profits and the marketing possibilities of the wider digital revolution.”